Automotive

LIFO Tax Relief Gains Support

Maybe deferring tax payments will have the same effect on the supply chain issues as deferring rent has on water heater repairs?
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LIFO Tax Relief Gains Support

US Sen. Sherrod Brown, D-Ohio, has introduced a bill that would give dealers up to three years to restore inventories. Auto dealers will have the option to defer tax payments until inventory levels stabilize.

Support. The Senate bill follows earlier legislation in the House that remains unsupported by the Treasury. Each bill has bipartisan support within the lawmaking body.

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